NABLUS, February 18, 2010 (WAFA)- Palestine Securities Exchange has maintained a high trading volume for the second week [ February 14-18] in a row in parallel to the coherent performance of the various market indices, which has been represented in the concentration of purchasing transactions within the current price channels.
This was attributed to the distinguished performance of listed companies in 2009, in line of the satisfaction with completion of confidence elements in effect of realizing profits by 30 traded companies out of 35, and improving the performance of 25 companies by increasing their profits or minimizing losses versus the year 2008. On the other hand, several listed companies have scheduled their board of directors meetings, to dominate a state of anticipation among investors regarding the proposed dividends for these companies, in which investors will base their investment decisions upon in the coming period.
PADICO realized a net income for shareholders in 2009 of $40.59 million with a growth rate of %80 resulting from an increase of group’s revenues by %42, to raise the earning per share from profits to $0.16 and record a growth in the share’s book value by %5 to reach $1.46, as PADICO’s share advanced by %0.76 and closed at the level of $1.33 at the end of the week’s transactions after trading 1.67 million shares that valued $2.19 million. In the same sector, PIIC’s financial performance in 2009 has improved when the company covered the previous year’s losses and realized a net income of JD2.65 million, while the share closed at the level of JD0.74 after an increase of %5.71, as PRICO also rose by %1.35 when closed at the level of JD0.75, it’s worth to mention that the company earned a net income of JD0.52 million at the end of fiscal year 2009 comparing to a loss in 2008, so investment sector’s index earned slightly by %0.75.
Services sector’s index lost by %0.96 affected by PALTEL’s descending which in its turn fell by %1.22 and closed at the level of JD5.69 within transactions of $2.08 million, as the company announced a net income in 2009 of JD70.34 million with a drop rate of %21.13 versus 2008, this decline was ascribed to the increase of PALTEL’s allocation of VTEL losses in which the company owns %25 from, noting that PALTEL’s operating income has increased by %6.01.
In the same sector, WASSEL’s financial performance in 2009 was distinguished when realized a net income of JD0.63 million with a growth rate that has exceeded %3000, the share closed at JD0.58 at the end of the week increasing by %1.69 within transactions that had not exceeded $35 thousands.
Banking sector’s index increased by %1.57, simulated by the advance of ISBK which in its turn gained remarkably by %11.69 when it closed at the level of $0.86 within active transactions of $0.74 million. BOP disclosed a net income for the year 2009 of $28.37 million with a growth rate of %20.16 comparing to the year 2008, to end the week’s transactions with a slight increase of %0.27 at the level of $3.76. It is worth to mention the execution of several institutional transactions at PIBC share, in which enhanced the transactions value of banking sector and the overall market, PIBC closed at the level of $1.22.
